Fact-checked · Up to date · Official sources
Thessaloniki real estate costs less than Athens but now needs the same €800,000 Golden Visa investment. Spitogatos asking prices in Q2 2026 ranged from €938/m² in Mygdonia to €3,175/m² in Kalamaria, with the city centre at €3,056/m². The metro reached Kalamaria in August 2026, and new short-term rental registrations are frozen in the city centre.
Last verified: 20 October 2026Thessaloniki is Greece’s second city and the main market of Northern Greece. Prices are lower than in Athens, but the Golden Visa threshold is the same.
| Item | Figure | Source and date |
|---|---|---|
| Golden Visa minimum | €800,000 (one property, at least 120 m² main areas) | Law 5100/2024 |
| Conversions and listed buildings | €250,000 | Law 5100/2024 |
| Asking price, city centre | €3,056/m² | Spitogatos, Q2 2026 |
| Asking price change | +7.7% year on year | Spitogatos, Q2 2026 |
| Apartment price change | +4.7% year on year | Bank of Greece, Q2 2026 (provisional) |
| Airport | Thessaloniki Makedonia (SKG) | Fraport Greece |
For how the city compares with Athens, Halkidiki and the islands, see our guide to where to buy property in Greece.
Asking prices in Thessaloniki rose 7.7% year on year in Q2 2026, Spitogatos data show. Bank of Greece transaction-based data for the same quarter show a slower 4.7%.
The two series measure different things. Spitogatos tracks the prices sellers ask in online listings. The Bank of Greece index is built from valuations of real transactions. Expect agreed prices to sit below asking prices.
| Area | Asking price | Period |
|---|---|---|
| Kalamaria (highest in the urban area) | €3,175/m² | Q2 2026 |
| Centre | €3,056/m² | Q2 2026 |
| Pylaia | €2,962/m² | Q2 2026 |
| Charilaou | €2,857/m² | Q2 2026 |
| Toumba | €2,850/m² | Q2 2026 |
| Epanomi | €1,333/m² | Q2 2026 |
| Mygdonia (lowest in the wider area) | €938/m² | Q2 2026 |
Source: Spitogatos asking prices, Q2 2026 release (4 August 2026). Spitogatos does not publish a separate figure for Panorama in that release, and it gives no single average for the whole urban area.
The Bank of Greece recorded a 9.7% rise in Thessaloniki apartment prices for the whole of 2025. The largest annual asking-price rises in Q2 2026 were in Xirokrini–Panagia Faneromeni (over 30%), Stavroupoli (26.1%) and Sfagia–Ichthyoskala (25.2%).
For national context, see our Greece house prices data page. For live listings, Spitogatos and xe.gr show current asking prices by street.
Most buyers who want to buy an apartment in Thessaloniki choose between the centre, the eastern seafront suburbs and the hillside suburbs. Each suits a different use.
Ladadika, the area around Aristotelous Square and the seafront to the White Tower form the historic core. Housing here is mostly older apartment blocks. This is also the zone covered by the short-term rental freeze, so check the rules before you buy to let to tourists.
Kalamaria is a separate municipality south-east of the centre and the most expensive part of the urban area on Spitogatos data. Since 27 August 2026 it has metro stations on the new branch line. Nearby Charilaou and Toumba were listed at about €2,850/m² in Q2 2026.
These eastern hillside areas have more detached houses and newer blocks. They are close to the airport road and business districts. Pylaia was listed at €2,962/m² in Q2 2026; Spitogatos does not publish a separate figure for Panorama.
Stavroupoli, Neapoli–Sykies and nearby districts are cheaper and recorded some of the fastest asking-price rises in Q2 2026.
South of the airport, Perea, Nea Michaniona and Epanomi are coastal suburbs. Rents in Epanomi rose 23.3% and in Thermaikos 16.7% year on year in Q2 2026, Spitogatos data show.
The Thessaloniki Metro opened on 30 November 2024 with a 9.6 km line and 13 stations. A 4.8 km branch to Kalamaria with five stations opened on 27 August 2026, taking the network to 18 stations.
Homes within walking distance of a station have better public transport than before. We have not found an official study that measures a price effect, so treat claims of a metro premium with care.
Other projects near the port and the western entrance are at an early stage. One example is the lease tender for a former railway site, covered in our report on the Thessaloniki rail site.
Most Thessaloniki purchases are resale apartments in older blocks. The main checks are legal title, building legality and the condition of the structure.
Our step-by-step guide to buying property in Greece as a foreigner covers the full process.
Short-term letting is restricted in the city centre, while long-term rents are rising. Choose the area and the strategy together.
Law 5313/2026 bans first-time registrations of short-term rentals in the First Municipal Community of Thessaloniki (the historic centre) from 1 July to 31 December 2026. The law allows a joint ministerial decision to extend the freeze. An extension to 2027 has been announced, but we have not found the legal act that enacts it. Outside the First Municipal Community the national rules apply. See Greece short-term rental rules 2026.
Asking rents in Thessaloniki rose 6.6% year on year in Q2 2026, Spitogatos reports. The highest asking rents, €12.0/m² a month, were in the centre and Vardaris–Lachanokipoi. In Spitogatos’ separate student-housing release, small homes suited to students were listed at €12.9/m² in the centre and €13.0/m² in 40 Ekklisies in Q2 2026. The city is home to the Aristotle University of Thessaloniki and the University of Macedonia, which support demand for small flats. Tax on rent is covered in Greek rental income tax for owners abroad.
The Thessaloniki Golden Visa needs a €800,000 investment in one property of at least 120 m² main areas anywhere in the Thessaloniki Regional Unit. Conversions of commercial buildings to homes and restorations of listed buildings qualify from €250,000.
Golden Visa properties may not be let as short-term rentals. Neighbouring Halkidiki is outside the €800,000 zone, so the €400,000 threshold applies there. Read the full rules on our Greece Golden Visa page and in our Halkidiki property guide.
Purchase costs are set nationally, so they are the same in Thessaloniki as elsewhere. On a resale, transfer tax is 3% plus a 3% municipal surcharge on the tax, or 3.09% in total.
A draft bill in public consultation to 1 November 2026 would set a higher rate (announced at 15%) for buyers who are not EU/EEA tax residents from 1 July 2027. It is a draft, not law. See our report on the transfer tax bill.
VAT on new builds and capital gains tax are both suspended to 31 December 2026. For a full breakdown, read the cost of buying property in Greece or use the buying cost calculator.
Thessaloniki Airport (SKG) handled 7,982,798 passengers in 2025, up 8.2% on 2024, Fraport Greece reports. Preliminary figures for January to September 2026 show 6,449,399 passengers, 5.4% more than a year earlier.
The airport lies south-east of the city, near Thermi and the Thermaikos suburbs. Halkidiki’s resort areas are reached by road from the airport.
Thinking about buying in Thessaloniki? Give your brief to an independent buyer’s agency. It can search the market for exactly what you are looking for and advise you through the purchase.
Spitogatos asking prices in Q2 2026 were €3,056/m² in the centre, €2,962/m² in Pylaia and €3,175/m² in Kalamaria, the most expensive area. Western and outer areas are far cheaper, down to €938/m² in Mygdonia. A 70 m² flat at the centre figure would be listed at about €214,000. Agreed prices are usually lower.
Yes, but the minimum is €800,000 for one property of at least 120 m² main areas in the Thessaloniki Regional Unit, under Law 5100/2024. Conversions of commercial buildings to homes and listed-building restorations qualify from €250,000. The property may not be let as a short-term rental. See our Golden Visa guide.
Short-term rentals are allowed in most of the city, but Law 5313/2026 bans new registrations in the First Municipal Community, the historic centre, from 1 July to 31 December 2026. An extension to 2027 has been announced but we have not found the legal act. Existing registrations and areas outside the centre follow the national rules.
Yes, but more slowly. The Bank of Greece recorded a 4.7% annual rise in Thessaloniki apartment prices in Q2 2026, down from 9.7% for 2025 as a whole. Spitogatos asking prices rose 7.7% year on year in Q2 2026. Growth was fastest in western districts such as Stavroupoli.
Generally yes. Spitogatos listed central Thessaloniki at €3,056/m² in Q2 2026, against €4,231/m² for the southern suburbs of Athens and €3,519/m² for the northern suburbs. Both cities have the same €800,000 Golden Visa threshold. Compare districts on our Athens property prices page.
Yes. The main metro line opened on 30 November 2024 with 13 stations. A 4.8 km branch to Kalamaria with five new stations opened on 27 August 2026, bringing the network to 18 stations. Kalamaria is also the most expensive part of the urban area on Spitogatos Q2 2026 asking prices.